| Payback Time: Making Big Money Is the Best Revenge! |  | Author: Phil Town
Publisher: Crown Business
Category: Book
List Price: $26.99
Buy Used: $8.48
as of 2/8/2012 08:01 PST details
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Seller: big_river_books
Sales Rank: 20,924
Media: Hardcover
Pages: 288
Number Of Items: 1
Shipping Weight (lbs): 1.2
Dimensions (in): 6.4 x 1.1 x 9.6
ISBN: 0307461866
Dewey Decimal Number: 332.6
EAN: 9780307461865
ASIN: 0307461866
Publication Date: March 2, 2010
Availability: Usually ships in 1-2 business days
Condition: Cover and pages may have some wear or writing. Binding is tight. We ship daily Monday-Friday.
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Product Description
My first book, Rule #1, was a guide to stock trading for people who believe they lack the knowledge to trade. It was deeply satisfying to see Rule #1 reach #1 on the New York Times bestseller list and sell hundreds of thousands of copies. I've since come to realize, though, that many people aren't ready to go from mutual funds directly into trading without understanding investing-for the long term.
I'm baffled by why so many people trust fund managers to grow their money given that the vast majority have proven that they can't beat the market. Indeed, only 4% have shown themselves capable of beating the S&P 500 index over the long term, which means that 96% of fund investors see a smaller return on their nest egg than a chimpanzee who simply buys stocks in the 500 biggest companies in America and watches what happens.
The risk-free approach I'm advocating here is called "stockpiling" and it's what we've learned from billionaires about how to get rich in bad markets. It's a set of rules for investing (not trading but investing) in the right businesses at the right time - rules that will ensure you make the big money. Most important, by following these rules, you'll be able to sleep at night, knowing the long-term value of your portfolio goes up in a down market.
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